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The Actuary The magazine of the Institute & Faculty of Actuaries

Risk & ERM

  • Two people signing contracts © Shutterstock Demand for transactional risk insurance grows by 32% in 2015The use of transactional risk insurance for mergers and acquisitions (M&A) continued to increase globally during 2015, according to a report published by Marsh. 08 April 2016
  • A dynamic trio A dynamic trio31 May sees the launch of the IFoA's first Pensions, Risk and Investment Conference, joining three large practice area conferences under one roof. This offers delegates the chance to attend a wide range of cross-practice sessions and topics outside their immediate specialisms, and to network with others from different areas and with different interests and experiences. On behalf of the conference programme committee, the IFoA and the AFIR-ERM, welcome you to Edinburgh. 07 April 2016
  • Lloyd's of London © iStock Brexit would damage Lloyd's insurers, survey findsMore than two thirds of insurers believe leaving the EU would be bad for business, according to Haggie Partners. 04 April 2016
  • Flooded road with a drowned car © Shutterstock Flood Re receives regulatory approvalReinsurance scheme Flood Re has been authorised to operate by the Prudential Regulatory Authority and the Financial Conduct Authority with effect from today. 01 April 2016
  • Pancakes and blueberries © Shutterstock Risky portfolios do not match investors' appetitesThe majority of the UK's ISA portfolios are in sectors with top risk ratings, but investors do not have the same requirements, a firm has warned. 31 March 2016
  • A computer on fire © iStock IFoA sets out best practice for operational risk modelsThe Institute and Faculty of Actuaries (IFoA) has outlined measures to address the issues of operational risk for banks, insurers and other financial services firms. 23 March 2016
  • Earth melting © iStock Climate change risk should be treated like any other risk, event toldPension fund trustees and investors should treat climate change risk like they would any other significant risk, according to David Adkins, chief investment officer at The Pensions Trust. 11 March 2016
  • Actuary in a hard hat Actuary in a hard hatArthur Els shares some of his experiences in a major construction company after taking the CERA qualification and encourages others to venture beyond the financial arena 03 March 2016
  • Dar es Salaam, Tanzania © iStock Africa 'must close insurance gap' to sustain economic growthSub-Saharan Africa has opportunities for growth in the corporate and industrial insurance market but the region needs to increase its insurance penetration for future economic development, according to Allianz Global Corporate & Specialty (AGCS). 26 February 2016
  • A flight landing in London © Shutterstock Marrying up data and tools necessary to get the most out of modelling, actuary saysA 'winning combination' of both data and sophisticated models is needed in order to get the most out of data modelling, according to Aon Benfield. 10 February 2016
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Enterprise risk management

Enterprise risk management (ERM) is generally accepted to be a wider subject than traditional risk management.

While traditional risk management focuses on identifying, measuring and monitoring risks to limit a company's losses, ERM recognises that businesses take risks to make a profit for their owners. It therefore attempts to strike a balance between too much risk and not enough risk in light of a business's strategy - making sure the risk-taking activities of the company are aligned with its objectives and its willingness, or otherwise, to take losses.

An ERM process will incorporate risk information into strategic planning, management decision making, product design and more.

Find out more